Credit Rating

Japan Credit Rating Agency, Ltd. (JCR) BBB+ Publication date: September 6, 2018
Rating and Investment Information, Inc. (R&I) BBB+ Publication date: September 13, 2018

Bond Information

(As of October 31, 2018)

(※ This table scroll horizontally)

Company Bond Name Date of Issue Maturity Balance, fiscal year-start
(millions of yen)
Balance, fiscal year-end
(million of yen)
Interest rate
(%)
Daio Paper Corporation Euroyen-Denominated Zero Coupon Convertible Bonds September 17, 2015 September 17, 2020 30,075 24,158 0.000
Unsecured Straight Bond No. 18 March 22, 2017 March 22, 2022 15,000 15,000 0.420
Unsecured Straight Bond No. 19 December 14, 2017 December 14, 2022 15,000 15,000 0.420
Unsecured Straight Bond No. 20 December 14, 2017 December 13, 2024 10,000 10,000 0.600
Unsecured Straight Bond No. 21
(Green Bond)
October 25, 2018 October 24, 2025 0 15,000 0.605
Unsecured Straight Bond No. 22
(Green Bond)
October 25, 2018 October 25, 2028 0 5,000 0.864
Consolidated subsidiaries Subsidiary Private Placement Straight Bond March 27, 2017 March 27, 2022 300 300 0.490
total 70,375 84,458

※1 Estimated balance based on stock conversion status as of the end of September 2018

Green Bond

Daio Paper announces that it issued green bonds (Bond No. 21, Bond No.22) on October 25, 2018. The issuance of these green bonds is the first such issuance in the domestic papermaking and daily necessities industries.

The expenses required for the acquisition of external review for this green bond issuance is eligible for subsidies under Japanese Ministry of the Environment’s FY2018 Financial Support Programme for Green Bond Issuance.

What is Green Bond?

Green bonds are bonds that align to the Green Bond Principles set by the International Capital Market Association (ICMA), and refer to bonds that companies, municipalities and other organizations issue to procure funds exclusively for projects aimed at solving environmental problems (“Green Projects”).

Outline of this issuance

Term 7 years and 10 years
Amount of Issuance ¥20.0 billion (¥15.0 billion for 7-year, ¥5.0 billion for 10-year)
Date of Issuance October 25, 2018
Use of Proceeds (Green Projects) Facility for the effective use of hard-to-recycle recovered paper, and biomass power plant (boiler)
Lead Managers Mitsubishi UFJ Morgan Stanley Securities Co., Ltd.,
Daiwa Securities Co. Ltd.
Green Bond Structuring Agent ※2 Mitsubishi UFJ Morgan Stanley Securities Co., Ltd.
External Review of Eligibility (Second Party Opinion) DNV GL Business Assurance Japan K.K.

※2 Those who provide support for the issuance of green bonds, such as providing advices for establishing green bond framework and the acquisition of second party opinion.

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